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On January 1, a company issued 7%,15-year bonds with a face amount of...

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Accounting

On January 1, a company issued 7%,15-year bonds with a face amount of $90 million for $82,218,695 to yield 8%. Interest is paid semiannually. What was interest expense at the effective interest rate on June 30, the first interest date?
Note: Round your final answer to the nearest whole dollar. Use tables, Excel, or a financial calculator.
Interest Expense
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